Monday, October 3, 2022

How To Transfer Money From Gift Card To Bank Account

Does Applecare Cover Stolen Phones

How to transfer gift cards money to your bank account – Money Maker off gift cards!

Believe it or not, AppleCare+ has never covered lost or stolen iPhonesuntil today. Apple has quietly expanded its AppleCare+ protection plans to not only cover accidental damage but lost or stolen devices as well. Most mobile carrier-provided insurance plans usually cover lost or stolen smartphones.

How To Share Money On Visa/mastercard Gift Card To Paypal

PayPal also accepts transferfrom Visa or Mastercard gift cards. These are versatile and quite different from store-specific cards like the ones you can buy from eBay, Amazon, or Walmart.

Needless to say, the process of transferring money is a bit different as well. Heres how it works.

  • Open your PayPal account and tap on Profile button.
  • Click on Add or Edit Bank Account. You are here to link your bank account with PayPal account.
  • Now provide all the necessary information such as your account number.
  • Your bank will link with PayPal. You can check by first making a micro-transaction.
  • Now get in touch with customer support service at the bank or visit their nearby branch.
  • Inform bank teller that you wish to transfer the funds on your Visa gift card balance to bank account. Wait for the said amount to be sent over.
  • Open PayPal account again and tap on Add Funds.
  • Then click on Add Funds From The Bank Account.
  • Fill in the amount that you wish to transfer. Tap on Continue.
  • Using bank account as mediator is a common way to exchange funds between different apps. The process is safe, quick, and easy to manage.

    Sell It To Another Person Online

    Another great way to get the cash out of your visa gift card is to sell it to another person online. Its quite similar to using a platform like Raise; but you are cutting out the middleman and their hefty fee.;

    The obvious downside of this method is that you would have to know the person who would like to buy a Visa gift card.;

    Theres an option of joining various Facebook Groups that are created for the purpose of buying and selling gift cards.;

    Be cautious, however, since you will need to get the trust established before doing an exchange.;

    There are a lot of scammers looking to take advantage of people here, so try and only do business with members who are trusted and have a good history.;

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    How Much Does It Cost To Transfer Money Using My Credit Card

    If you want to withdraw money from your credit card to put into your bank account, this is a relatively low cost and straightforward option compared to setting up a personal loan or borrowing against the value of your house.;

    However, it does come with some costs. You will most likely be charged a balance transfer fee -typically of about 4% of the total balance. So for a £5,000 transfer, thats £200.

    How much you can transfer from the card depends on your credit limit on your card, and any other terms and conditions. You may want to check first with your credit card provider to see what the extra costs might be. That way, you can compare the cost of a money transfer into your bank account versus the cost of setting up a personal loan.

    You will also need to pay the minimum amount off each month, otherwise you could lose out on the interest free deal. When you get to the end of the interest free term you will need to shop around for a new card unless you have paid off the full amount you have borrowed. After the 0% interest period ends the cost of borrowing could increase significantly because the interest rate will go up.

    After you have made the transfer you will owe the amount you borrowed plus the money transfer fee on the credit card. For example, if you transferred £5,000 with a 4% fee, you will owe £5,200 and will need to meet the minimum monthly repayment until this debt is cleared.

    Buy A Money Order With The Visa Gift Card

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    Places such as Walmart let you purchase a money order using a Visa gift card. Keep in mind this can vary depending on the location, so make sure to call the Walmart you are going to visit to make sure this option is available in your area.

    Once you receive your money order, you can deposit it into your bank and use it as cash. If you arent sure how a money order works, check out this article by Nerd Wallet. It goes through everything that you may need to know before getting started with getting a money order.

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    Five: Follow Additional Instructions From The Prepaid Card Company And Perform The Transfer Online To Your Bank Account

    Every prepaid card provider will have a slightly different set of instructions so make sure to follow the instructions carefully.

    At any point, if youre unsure of what to do, your prepaid card provider should have a customer service hotline that you can call for help.

    Here is an example of the detailed instructions provided by the Key2Benefits Prepaid Card website.

    How To Locate Your Prepaid Card Account Number And Routing Number

    Heres how to get your account number and routing number.

    There are two ways you can get this information:

    Option 1 Log into your prepaid card account

    If you have online access to your prepaid account, log in and look for a menu item that allows you to transfer money to your card. This is where you are likely to find the routing and account numbers for your prepaid debit card.

    If you need help logging into your prepaid account or need help setting up online access to your prepaid account, click below for a step by step login help for the following cards:

    Option 2 Call your prepaid card customer service

    Another way to get the account number and routing number for your prepaid debit card is to call your prepaid card customer service number.

    When you call, explain to them that you are trying to add funds from your bank account to your prepaid card and need your prepaid card account number and the bank routing number to complete the transaction.

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    How To Convert Your Visa Gift Card To Cash

    If you notice how your wallet is being weighed down or wont close all the way, youre probably like I am with a bunch of Visa gift cards stuffed in there that you forgot about. The cards are often for places like restaurants or movie theaters with Visa, Target, and sometimes Starbucks cards mixed in there.

    Truthfully, those gift cards get lost in the folds of my wallet. I find myself shuffling through them months later forgetting they were even there only to wish they had actually been cold, hard cash instead. I have often wondered if there was a way I could turn my Visa gift cards into cash.

    Nowadays, there is no shortage of ways to convert a Visa gift card to cash. While gift cards are typically a well meaning gift from others, lets be honest that the cash is more appealing. The ways listed here to get cash for your gift cards can fill your bank account instead of filling your wallet with unnecessary weight.

    Sell Your Visa Gift Card Through An App

    How To Transfer Money From Any Gift Card To My Bank Account (UNIVERSAL METHOD)

    Another option is to sell your Visa gift card on various apps that will buy it from you in order to resell it.

    While this can be a quick way to convert your Visa gift cards to cash, the fees are really steep so this should probably only be your last option if the others arent possible for some reason.

    For example, Raise has an app that does this for both iOS and Android, although theyll take 15% commission for doing this. Ouch.

    A similar one is Prepaid2Cash, another site that has an app for iOS and Android in order to trade in your Visa gift cards for cash. This one works slightly differently, in that:;

    • First you tell them the brand of the gift card
    • They then send you an offer through the app for the card
    • You have no obligation to accept this offer but once you do, theyll deposit it into your account in up to five business days

    This means that the fees they charge are incorporated into the offer, so its not entirely transparent. They state, however, that the offer will be up to 92% of the card balance, meaning the fees are at least 8%.

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    Get The Prepaid Card Account Number And Routing Number

    The first step to the process is to get the account number and routing number for your prepaid debit card.

    This is where most prepaid cardholders get stuck in the process because they cannot locate that information. If thats you, keep reading.

    Every prepaid debit card has an issuing bank. Even though its a prepaid debit card, a financial institution issued that card.

    Therefore, since the card was issued by a bank, there is an account number for each prepaid card and there is a routing number for the issuing bank.

    To be able to set up the transfer from your bank to your prepaid card, you will first have to get your prepaid card account number and the routing number for the issuing bank.

    Some prepaid cards easily provide this information to you and it can be located in your prepaid card account online.

    However, some prepaid debit cards do not make this information easily available.

    Sometimes, the account number that identifies your debit card can be different from the card number.

    Add It To Your Venmo Account

    Similar to PayPal, you can put your Visa gift card balance on your Venmo account. And this is actually a better option than PayPal if you were planning to transfer the money to your own account as cold, hard cash.

    This is because Venmo doesnt charge any fee to transfer money from your Venmo account to your bank account, unless you select the Instant Transfer option. Otherwise, the money should arrive in your account within one to three business days.

    To do this, go into the Venmo app and find the option that lets you add gift cards. Theres a chance that youll get a warning message here for fraud prevention, so either try again or give Venmo customer service a call at their helpline to see if they can clear up the issue.

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    Transfer Money Using Routing Number And Account Number Only

    Its surprising how difficult customers find it to transfer money using routing number and account number.

    Perhaps they have not yet come across the right and truly helpful guide.

    However, with piece of writing, you would be able to find out answers to all the queries you have about using account number and routing number to send funds from one to another account easily and quickly.

    Faq: What Is A Vanilla Visa Gift Card

    How to Transfer Money Between PayPal, Bank Accounts, and ...

    A Vanilla Visa gift card is a special line of Visa gift cards that are meant to be customized into an extra special gift. It basically takes the concept of gift card giving up a level as the cards can be designed specifically for the occasion or recipient that it is required for.

    There are thousands of design options to choose from including your personalized logo or image, making it a perfect gift for all occasions or as incentives by companies.;

    Vanilla Visa gift cards also come in several denominations from $10 to $500 and never expire. They can be used in a similar manner wherever Visa gift cards are accepted.

    Unfortunately, birthdays, Christmas and special holidays come only once a year so your gift cards from those events may be few in number. However, there are many other avenues that pay out in the form of gift cards and specifically, Visa gift cards.

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    Add A Gift Card To Venmo Account

    Earlier in this guide we have mentioned that Paypal might be one of the best ways of getting the balance off a gift card to another platform.;

    Venmo is another company owned by Paypal, so this is an option thats within your reach as well.;

    Since they are quite the same, you might be wondering what is the reason we are listing it in our guide?;

    Some people dont have Paypal and only have Venmo. So to avoid creating an additional payment processor account, you can use Venmo, if thats a platform you already use.;

    Also, Venmo doesnt have any transaction fees, unlike Paypal. Getting money off a Visa gift card in that case is absolutely free.;

    However, the process does take a few days to complete, so if you are desperate for money today, you can use the instant transfer via Venmo for a small added transaction fee.;

    Why Cant I Get Cash Off A Visa Gift Card

    Gift cards are marketed as gifts, whereas prepaid cards are typically marketed as an alternative to a traditional checking account. This distinction is important because the latter type of card can be reloaded with additional funds, be used to get cash from an ATM or allow the holder to get cash back from retailers who support this.

    To activate prepaid cards, you typically need to provide personal information such as your name, address, date of birth and social security or drivers license number. Merchants are also required to report suspicious purchases and track individuals buying large amounts of prepaid cards for five years. Gift cards, on the other hand, can be purchased and activated anonymously. As a result, anti-money laundering laws prevent gift cards from being used to get cash or from having a value over $1,000.

    Below are a couple of scenarios to help you understand the reasoning behind this.

    1. Clean Cash. A thief uses stolen money or money from drug sales to buy a prepaid card, then goes to an ATM to withdraw cash from the card. The money is now clean, but because the card has to be registered and merchants are required to track purchasers of prepaid cards, the bank has a potential way to identify the person laundering money. Since gift cards dont need to be registered, cashing out is not allowed.

    Those are just a couple of examples and not even the worst.

    Happy Gift Carding!

    ~Shelley Hunter, Gift Card Girlfriend

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    Transfer Visa Gift Card To Bank Account Through Moneygram

    MoneyGram is the second largest money transfer company. They are fast, affordable, reliable, and most importantly safe. Get ready to transfer visa gift card to Bank account by visiting MoneyGram website and following the steps below;

    #1. Sign up to create an account at MoneyGram

    Once you open the MoneyGram website, click the Sign up button, fill in your email address, provide a strong password and sign up.;

    Go to your email and verify that youve successfully created an account.

    #2. Click Send Money at the MoneyGram website

    At the top menu bar of the website, click the Send money icon and it would take you to a page where you are required to fill in the payment details. Which includes;

    • Amount to be sent
    • Select Debit or Credit card
    • Select the Account Deposit or Debit card deposit option.

    Make sure that your visa gift card is linked to your bank account you are sending the money to.

    #3. Fill in Bank Details

    Youd be taken to a page where youd fill in your bank details after sending the payment information. Here youd enter;

    • Receivers Name
    • Address
    • Card information

    After entering these information, click Next and your money transfer would be processed. Viola! In few minutes youd have transfered money from your visa gift card to bank account.;

    Note that MoneyGram charges a fee based on the amount youre sending. And fortunately their fee is ridiculously cheap. $1.99 for amounts less than $200. For amounts above $200, it charges $1.99 + 1% of the transferred amount.

    Is It Important To Know The Account Number And Routing Number For Your Bank

    Can I transfer money from a gift card to my bank account?

    The importance of knowing your account and routing number can not be understated. You are not only asked for these at time of transactions but at other instants as well.

    For example, you may have to provide the routing and account number when receiving money from other bank accounts. The transfer can not be complete without this data. Moreover, employers needs these number to send over pay rolls at the end of every month.

    Similarly, online payments and purchases required account number and routing number.

    When you are connecting your bank account to mobile app, the application would request you for this data. The linking process would finish after you enter all the required information.

    Lastly, routing + account number is required for check issuing.

    This is critical information that must be presented by every user who is still relying on paper checks.

    Now you can see how important routing and account numbers are? Dont forget to keep tabs on these whenever you open a new bank account. Here is a summary of the few points we have discussed above.

    • Account number and routing number are essential when receiving money from other accounts.
    • These are also required during online payments.
    • You have to mention these details when linking a bank account with mobile app.
    • These are required at the time of check issuing as well.

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